Sunday, November 5, 2023

Short-Term, Indices Are At Extreme Overbought Levels

SGS Market Timer Status:  SHORT 
SHORT  as of the close of Friday Sep 22, 2023
Previous SGS Status

SGS is a Long-Term (weeks to months) Timer
SGS Performance Data 
Why Market Timing Is A Must


SGS Market Timer

As of the close of last Friday (11/3), the value of SGS was calculated to be -358.  The status of SGS remains SHORT. 

S&P 500 Support And Resistance Levels

Support and resistance levels for SPX for this week are shown above.  Indices are at extreme short-term overbought levels.  There is a good chance that SPX tests support around 4270 this week before heading higher.  

My Plan

No change, I'm in cash (except for two small crypto positions) and planning to wait until SGS status changes from SHORT to NEUTRAL before considering open new long positions.  There is a good chance that we see that happening sometime this week. 



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SPX: S&P 500 Index    SMA: Simple Moving Average
DJI: Dow Jones Industrial Index    EMA: Exponential Moving Average
DJT: Dow Jones Transportation Index    PDL: Primary Downtrend Line
NAZ: NASDAQ Composite Index    PUL: Primary Uptrend Line
RUT: Russell 2000 Index    ASL: Active Support Line
OEX: S&P 100 Index    ARL: Active Resistance Line
NDX: NASDAQ 100 Index    DTL: Dynamic Trend Line   
TUL: Tentative Uptrend Line   TDL: Tentative Downtrend Line
TLR: Trend Line Resistance   TLS: Trend Line Support

Disclaimer: The views expressed are provided for informational purposes only and should not be construed in any way as investment advice or recommendation.  Furthermore, the opinions expressed may change without notice.  

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